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Solana risks 35% price crash with SOL price chart ‘megaphone’ pattern

Solana market grapples with multiple bearish setups if it breaks below its key 50-week moving average.
Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called “megaphone” pattern.SOL price “megaphone” patternIn detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But generally, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal.SOL has been sketching a similar pattern since the beginning of 2022, with the coin undergoing a pullback after testing the megaphone’s upper trendline near $140 as resistance — the fourth wing.As a result of the pattern, the Solana token could extend its decline to test the megaphone’s lower trendline as support near $65, about 35% below today’s price. Could SOL crash further?If this scenario plays out, SOL could crash furthe

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We współpracy z: https://cointelegraph.com/news/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern

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